#company

Action speak louder than words. Bye-bye.

Are there any current HCL employees at Xerox?

Creating this to discuss the circle jer… I mean town hall today

I’m hearing Q1 is not good

So the brain trust didn't hand in their homework and asked for an extension to file their year end numbers. I'm sure the numbers are great, and they didn;t lie through their teeth on the earnings call.

GL to anyone tagged to transformation / CO work in a HCOL

Employee appreciation gift- a $15 credit to grub hub. BUT you have to spend $50 to use it.

Cheap a-s Allstate can't even give employees a plain $15 gift card. Some of us don’t even have acess to grubhub in our areas.

Hate on me all you want but this is insulting.

They have always told us “our people are our most important asset”. What does it say when you sell your most important asset. You are in a race to the bottom. I hope they win. Get out while you can. My sympathies for all those who have been affected by this very poor business decision.

Despite the online gushing about a Verizon turnaround since CEO Dan Schulman took over, the completion of its break up by delayering, which started more than 10 years ago, seems a far more likely outcome for what was once the top wireless provider in the US.

Verizon has been delayering for a decade
Delayering is when a telco splits itself into separate ServCo, NetCo, and InfraCo layers and sells off its assets to address its debts. (For a deeper understanding, check out this TM Forum research report on it). Verizon has been at this awhile.

Sold its towers

Verizon began delayering in about 2015 when it sold most of its cell towers to American Tower and the rest to Vertical Bridge just last year. Now largely a ServCo-Netco, Verizon leases towers from American Tower, Vertical Bridge, Crown Castle, and SBA Communications. The company still owns its base stations and other network gear, which move toward obsolescence every day.

Sold its data centers

Verizon left the data center business in 2017 through a deal with Equinix and now partners with hyperscalers like AWS and Microsoft for data center capacity. So, Verizon does not own much of the physical plant where it runs its IT and network systems.

Verizon’s IT landscape remains on its books, but much or most of that is outsourced and licensed, some is obsolete, and all of it is aging fast. As the pace of change increases across IT markets worldwide, especially with the AI invasion, its legacy BSS and OSS systems become costlier and less relevant to future value.

Spinning off its stores

Most recently, Verizon announced it would convert its company-owned stores to franchised Authorized Retailers. Most likely these physical assets will go to big partners like Victra and Wireless Zone, which already operate thousands of Verizon stores. This also relates to the company’s announced layoffs of thousand of customer-facing employees to shed expense.

Fiber miles next?

Verizon still owns significant installed fiber optic assets. Just as AT&T and T‑Mobile US lease most of their fiber, we should probably expect to see Verizon sell off this physical plant to raise more cash.

Becoming customer-focused? Not really
Schulman’s turnaround spiel insists the company “must shift to a customer-first focus.” This is a tacit admission that Verizon isn’t customer-focused now.

Lip service ripped from T‑Mobile

Spinning out thousands of stores to partners who charge added service fees doesn’t sound like a customer-centric move. The messaging sounds disingenuous and is cut-and-pasted from T‑Mobile’s playbook. T‑Mobile’s “customer obsession” has helped it take the lead in US wireless and it took a few years to kick in.

Cut rate holiday offers

Verizon launched a “bring your bill” holiday campaign to undercut AT&T and T‑Mobile pricing. This isn’t customer-centric, it’s prospect-centric. And it’s a race to the bottom price gimmick Sprint failed with before being acquired by T‑Mobile US.

This desperation rate cut coupled with the 13,000 non-union layoffs looks more like a short-term ploy to bump Verizon’s stock by doing two things Wall Street likes: cutting costs and adding subscribers.

These moves might benefit Schulman’s cadre of executives and remaining shareholding employees. Keep an eye on insider sales the minute the stock price moves north, if it does.

Cannibalizing its own MVNOs
Part of Schulman’s justification for price cutting is to fend off its aggressive competitors and turn the tide on customer churn. Wireless offerings from cable MSOs are major drivers of the churn he wants to stop. Two of the biggest players in cable MVNOs are Comcast and Charter, which use Verizon’s network. Verizon might win some customers away from AT&T and T‑Mobile with its holiday sale, but they will also undercut these wholesale customers.

Back in May, Verizon Consumer CEO Sowmyanarayan Sampath was telling the street that cable MSOs are “a very important strategic partner of ours” adding that because they only focus on certain segments and play in markets where Verizon “may not have a presence… it’s actually a gain for us.”

Here’s your mixed metaphor of the day: Verizon is a snake eating its tail while rearranging deck chairs on a sinking ship. This is BS on top of BS from Verizon leadership.

A mountain of debt to conquer
One thing Verizon does own is a $147 billion mountain of debt. This stands against less than $8 billion in cash on hand. Some of this debt is a leftover from the company’s debt financed, $130 billion purchase of Vodafone’s stake in Verizon Wireless back in 2014. Selling off assets to American Tower for $5 billion hardly made a dent. Some debt also ties back to its C‑band spectrum auction “win” in 2021, which cost the company more than $45 billion. Spectrum remains Verizon’s prized asset, but it’s not enough to overcome its debts.

This makes Verizon dependent on its rich cash flows. The company reported about $135 billion in operating revenue for 2024, with about $37 billion in cash flow and $19.8 billion in free cash flow. Verizon’s annual interest expense alone is around $7 billion. This doesn’t set a great stage for a turnaround and is a big part of the reason for the company’s mass layoffs just before the US Thanksgiving holiday. Classy move.

There’s not much left for Verizon to sell out of its cupboard and only so many heads it can cut to deal with its ugly debt problem.

If you’re a Verizon IT vendor, get ready to feel the squeeze. You can bet a round of contract cancellations are on the way. It would not be the first-time new management in a US telco booted out as many IT players as it could to cut costs.

Private bankers happy, public shareholders not
What’s left of Verizon will be a low-cost wireless brand that offers less value to consumers than its own MVNOs.

This reduced company isn’t suddenly going to care better for its customers. It won’t cater to businesses better as it trims back the IT and employees it needs to do so. And it doesn’t offer a better network than its rivals.

Schulman may have a great track record making investors happy, but which investors is he trying to make happy now? I don’t think it’s the public market.

Private banking interests will benefit most from the finalization of Verizon’s break up. Public shareholders will be left with the brand, debts, spectrum — if that isn’t also sold off — IT expense, and probably a reduced dividend in the not-too-distant future.

Verizon turn-around? It seems doubtful that’s even the plan. The completion of its de-layering and devouring by private money interests looks like a far more likely outcome. Then it’s a question of who buys whatever is left.

Just TUPE-ed to a different contact provider who actually gave us a 1.5% increase on transfer because the timing means we miss their annual review and DXC's (ha ha) March review.
It remains to be seen what they're actually like as an employer - but they'd have to try really hard to be worse that DXC.
Hope things work out for the rest of you.

Is anyone aware of global hiring freeze?

Home Depot recently announced significant changes for its corporate workforce. The company eliminated 800 positions, primarily affecting remote employees. Despite these layoffs, Home Depot plans to create 250 new jobs in Cobb County. Corporate workers are now required to return to the office weekly, supported by a child care center expansion and new parking. Company officials assert that Home Depot remains financially sound and is growing.

https://www.mdjonline.com/news/local/home-depot-employees-return-to-office-at-cobb-headquarters-after-layoffs/article_b6317a58-5623-4f02-94b3-834caa4d404b.html

https://finance.yahoo.com/news/reddit-still-furious-t-47-125619599.html

Anyome here moved to a new role internally after less than 12 months in current role? Or know of any colleague who did this.

It only seems fair.

Cross posting from the FIS Layoffs page here only makes sense. Buehler? Buehler?

When BAE merged with Ball Aerospace, a few years age, did BAE finally get rid of the good old boys club and old guard at Ball Aerospace that was so brutally terrible?
I have worked for both companies in the past and BAE systems was probably one of the best company I ever worked for and Ball aerospace was probably the absolutely worst company I ever worked for.

Some groups in risk, 20%

I think these are the layoffs promised in Feb that never came.

If you havent beem notified you are safe... for 2 weeks anyway.

What we betting? I have 4 nickels and a piece of string, all in.

No context, just stuff hitting the you know what.

Dan said layoffs will not be incremental meaning the 20% reduction was a one time only. This is a black swan event that doesn’t occur frequently. Just relax most of you will be fine!!!

Any other specific groups yet?

Memory shortages are going to whack margins and the only lever that can be pulled to maintain stock price is expense reduction aka layoffs.

This company has no ability to sell software without hardware and no ability to hedge across non storage products.

Before someone says what about cloud ..... Azure and the others, will also be hit with the shortages.

NetApp is like a small mom and pop hardware store which is being destroyed by Home Depot.

Leave now before the out of business sign is on the door.

Was he not the CFO the past few years? And greenlit HIH?

I love it how EHS loves to toot their own ho-n about how AMAZING their training is. $5 everything she put up is straight lies.

LOB and what you can share.

LAYOFFS!!!!

Indiana has a new CEO. Worried?

Like we all didn't see that coming.....

Bluum, a tech services company, will close its Irving facility. The company communicated this decision to the state. Bluum cited "strategic restructuring" as the reason. This explanation was provided in an official letter. The closure specifically impacts the Irving operation.

https://www.bizjournals.com/dallas/news/2026/03/02/tech-services-co-wine-distributor-plan-layoffs.html

thoughts about the new rebranding exercise and the new logo design?

Is it still on? or just a runour?

Manufacturing PMIs in Europe start expanding and workforce is being cut - great move Wi--y...
Who could have thought that a former retiree CEO only has short term interest in the stock price/his options package and a majority external sourced execs board just bows - great vision for our 3M !

Look at Boeing’s stock today compared to Lockheed or Northrup.
Boeing is a joke, which they have repeatedly proven they can’t deliver on any defense contracts they have been lucky to even win.

Watching Elevance Health slowly sink like the Titanic. It’s hard to imagine they will ever recover from this mess.

EM PIP in reality can be driven by statistics, internal politics, bias, or interpersonal conflicts not your performance. So many people end up on a PIP for reasons that have nothing to do with their actual work. Some examples I have seen in past years/teams:

• He was put on a PIP after questioning unethical practices used by senior team members and suggesting better methods. They felt threatened and collectively turned against him.
• She was sharp, social, and highly capable. Her manager recognized her potential and gave her additional responsibilities, which triggered jealousy among other women on the team who then ganged up on her.
• He was new to the group, and instead of helping him integrate, they isolated him, refused to let him blend in, and targeted him for bottom ranking.
• She consistently helped others develop, but instead of being recognized, her peers sabotaged her work because she was naïve and overly friendly.
  How PIP Practices Often Work in Reality:
  In many organizations, the outcome of a PIP is predetermined long before the process officially begins.
• Some employees receive only a few formality emails and “pass” without any real process.
• Some endure a three‑month ordeal that feels like a continuous interview, filled with pressure, bullying, and harassment—only to be told they “failed.”
• Employees targeted for removal often face hostility, humiliation, and impossible expectations, and at the end they’re given vague statements like “We don’t think you’re a good fit.”
• Some people have their PIP extended because of medical leave or mental‑health‑related disability leave, only to return and be failed anyway—or receive a letter saying their disability benefits are ending and they will be terminated if they cannot return...
  Bottom line if you are not PIPed soley for statistics choose PIL....Up to you

If you think you have what it takes to make it outside Wells Fargo, you best be looking. Latest survey has just over 60% of US companies saying they plan to reduce workforce numbers in 2026.

Anyone concerned that the ELT is making decisions that are self serving and make no sense? Product is a calamity, decisions are absurd, and we need someone who has run a company beyond middle grade project.

you know what that means

Sabre just issued an 8K outlining its limited-duration shareholder rights plan (basically telling Wall Street they have a short term 'poison pill' strategy) following the accumulation of a significant amount of stock by Constellation Software. Sabre's travel customers now not only have to worry about whether Sabre can deliver the products they need, but whether they will even have ownership stability since the stock started to be traded at The Dollar Store. I don't know about you, but Sabre has probably run out of runway to repair the balance sheet in time to invest in any credible product development that can compete with PROS, Accelya, or FLYR's PSS alternative's in the PSS arena. What do you think?